Mincor has embarked on an exciting new chapter as a successful nickel sulphide mining and exploration company in the Kambalda District in Western Australia.
Kambalda is one of the world’s great nickel provinces. Since its discovery by WMC Resources Ltd in 1966, it has produced over 51 million tonnes of ore grading 3.1% Ni for 1.6Mt of nickel metal.
Mincor played a leading role in Kambalda’s post-2001 revival. The Company produced some 180,000 tonnes of nickel metal in ore over a successful 14-year period as a profitable, dividend-paying mining company before placing operations on care and maintenance in 2016 at a time of historically low nickel prices.
The Company has a dominant ground position in the Kambalda District with tenements covering more than 300km2 and a large, high quality Mineral Resource inventory totalling 3.3Mt at 3.6% Ni for 118,000 tonnes of contained nickel including Ore Reserves of 1.1Mt at 2.5% Ni for 28,000 tonnes of contained nickel.
Mincor’s nickel portfolio includes the full spectrum of assets ranging from existing mines on care and maintenance to proposed new mines, brownfields extensions and exploration targets.
The Company has embarked on an integrated mine restart plan, targeting an initial 5-year mine life with a notional ore throughput of 400-500ktpa.
The restart plan is underpinned by an Offtake Term Sheet signed in March 2019 with BHP Billiton Nickel West to utilise the nearby Kambalda Nickel Concentrator. For further information on the Offtake Term Sheet, click here.
In 2018 Mincor commenced gold mining at the Widgiemooltha Gold Project, with ore processed under a toll treatment agreement with Westgold Resources Ltd. Cashflows from gold production are contributing towards the Company’s nickel exploration and development programs.